BGN Entrepreneur

UK has entered a steep recession at the end of 2008 and underline expectations that the Bank of England will take further steps to ease critical monetary conditions by embarking on a course of quantitative easing. However, as manufacturing wilts, according to official figures this morning, the UK is in the grip of a deeper recession than had hitherto been thought.
ONS data shows that GDP fell 1.9% in the fourth quarter of 2008 compared to the situation in 2007. It was the worst performance ever since the second quarter of 1991. According to the forecast by economists, UK could remain in recession for most of 2009 as output continues to shrink.

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